In competitive industries, you need to make sure that you can offer customers something others can. In the world of credit cards and banks, lots of them have been competing to see who can offer the most – the most points, the most miles, the most cash-back offers – and now that same mindset has finally made it to the crypto community. The Bread Token (BRD) is the token of the Bread wallet, which is one of the first cryptocurrency wallets to offer customers rewards via a loyalty program. With so many wallets out there, people need a reason to choose you, which is why Bread has stepped up its game to keep people using it.

The Bread Wallet

First off, what is the Bread wallet? It's a free crypto wallet that you can download on iOS or Android. You get a key with your wallet (if you're making a new one) with which you can recover Bitcoins if you lose access to your device. It has a user-friendly layout and design, allowing you to send and receive Bitcoins, and in some countries you can buy Bitcoin directly with fiat currency.

There are fees for doing transactions in the Bread wallet, but you can choose between standard fees and “economy” fees – the latter are cheaper, but they take longer, so only choose this option if you're not in a hurry.

How Accessible Is It?

This is part of why Bread exists in the first place. The platform was designed to make it easy for people to get into decentralized banking and stop relying on traditional institutions. Bread hopes to do this by partnering with different financial service companies so that people can not only buy and sell Bitcoin, but be paid in Bitcoin, use Bitcoin to pay for other services like rent and utilities, and much, much more.

Technically the Bread wallet doesn't “hold” any money, so it doesn't end up contravening local laws. Instead, the service connects people to their Bitcoins and creates paths for people to use them that they may not have had before.

How Bread Token Works

So since Bread works with Bitcoin, what's the point of the Bread token? The BRD came out in December of 2017, and was created as an in-house coin that entitles users to discounts – a user who might have paid a $10 fee for a transaction might only pay $7 if they hold BRD. More rewards are promised in the months to come.

There are around 88.8 million BRD in existence, with only two-thirds of it in circulation. The rest can be “earned” by spreading word-of-mouth via social media, taking surveys, and keeping BRD in your Bread wallet.

Since there will be no new BRD minted, the limited supply will be stretched out across more and more people, making them more valuable and rare. To keep up with this, rewards will increase – one “improved reward” consideration is direct customer service via phone, something hard to find in the crypto world. Other coins with similar types of rewards can be seen at our list of the best new cryptocurrencies of 2018 for investing.

The Bread Team

Bread started out as Breadwallet in 2015, founded by Aaron Voisine (President) and Adam Traidman (CEO). It was designed as the first independent Bitcoin wallet on the market.

The future holds a lot of things for Bread. First of all, they plan to try to expand the Bread wallet's functions in other countries. They also want to expand its functionality to include Ethereum and ERC-20 token support, and eventually to allow people to take part in ICOs via the platform.

The Performance of BRD

This is still a fairly-new company, since the ICO only happened in December of 2017. Since the Bread wallet only supports Bitcoin at the moment, the value of the BRD token has grown and fallen with BTC. As Bitcoin rises, so does BRD, so keep an eye out for news that could affect Bitcoin's price.

Ultimately this isn't the only thing that'll change BRD's price. Like all other currencies, the popularity of its platform will also affect it, so the more people who adopt the Bread wallet, the better.

Another thing that'll help the price of BRD is the fact that it can't be mined – there's a set limit of BRD, meaning the more people to start trading in it, the harder it will be to come by, and the higher the price.

Buying BRD

Right now nearly all BRD are currently in the possession of the people who took part in the presale and the ICO. BRD is slated to be released in rewards, giveaways, and promotions – but what if you want to get in on it now? You can buy BRD directly on Binance (for Bitcoin, Ethereum, and BNB) as well as OKEx (for fiat, Bitcoin, and Ethereum).

Storing BRD

Right now the BRD token is an ERC-20-compliant token, meaning it can be stored in all wallets that are compatible with ERC-20. That includes MyEtherWallet, the most popular online software wallet in the crypto community, with legions of satisfied users.

If you prefer a more secure approach, you can also store it in a hardware wallet like the Trezor, or the Ledger Nano S. These allow you to keep your tokens safer than a traditional software wallet, since they can be unplugged from the internet.

The LoafWallet

The Bread wallet has had its applications elsewhere, too. One of the advisers for Bread is Charlie Lee, the founder of Litecoin. The Litecoin team took the Bread wallet source code (which is kosher, since Bread is open-source) and made a Litecoin wallet called LoafWallet. They chose not to develop a token for it, though, meaning users of LoafWallet will likely not have the same rewards system that makes the Bread wallet so special. However, that could happen later, so keep your eyes on the crypto news feeds.

Bread vs Coinbase

These aren't quite the same thing, and so it's hard to compare them. Bread is a cryptocurrency wallet that has its own token that allows people to get discounts on fees and other rewards, while Coinbase is a marketplace that allows for buying and selling of crypto – although it does have its own wallet, there doesn't seem to be much in terms of rewards. Bread only works for Bitcoin at the moment, while Coinbase allows you to buy Bitcoin, Ethereum, and Litecoin. Bread uses a token that can be traded and bought, while Coinbase doesn't have any real tokens or coins as a part of its platform.

Bread vs Ethos

These platforms both give people an easy-to-use digital wallet that can hold cryptocurrencies and allow people to buy and sell. Both have their own tokens – but while Bread's token grants people rewards like lower fees, Ethos's token seems to just be there to be used to pay for transactions and fees on their platform. It's not clear if there are any real “rewards” for holding Ethos's token. Ethos is designed to be a universal wallet from which one can access multiple wallets, while Bread is currently designed to be one single wallet, and only for Bitcoin (until they expand to other coins in the future).

Frequently Asked Questions

Is there a Bread token Reddit?
Yes, there's a community there discussing the Bread token and the wallet.

When was the Bread token sale?
December of 2017.

When is the Bread token ICO?
The ICO already happened, in December 2017.

What's the price of Bread token?
Last we checked, the price was around $1.04.

Is Bread token on CoinMarketCap?
Yes, it's listed there, along with the markets that trade in it.

Did the Bread wallet have an ICO?
Yes, they had their initial coin offering after a presale, where most of the coins were distributed to contributers.

What is the BRD token?
That's just the short-form way to refer to the Bread token.

Is there a Bread wallet community on Reddit?Yes.

Does the Breadwallet work with Ethereum?
No, right now it only works with Bitcoin, but Ethereum support is planned.

How is Breadwallet vs Coinbase?
If you'd like to know the answer to that, check out the section just above where we compare the two.

Is Bread on Binance?Yes, it's listed and trade there.

Do you know how to use Breadwallet?
You download it, import your current Bitcoin wallet (or create a new one), get your key, and start using its easy-to-use features.

What was the Bread ICO price?
We looked, but couldn't find that information.

Conclusion

Right now the Bread wallet doesn't have a lot of functionality – it only works with Bitcoin, they haven't really rolled out their BRD giveaways and contests, and the platform as a whole is very new. However, the way that it plans to approach customer loyalty and rewards could make it very popular. Once they start to finally expand and embrace other coins like Ethereum, and as they start to demonstrate their ideas for customer reward programs, only then will we know if Bread follows up on its promise. It's a competitive world out there, and Bread will really need to prove itself if it wants to dominate the crypto wallet game.

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